I dont think it would be better or worse either way, more of a personal preference thing. I still grease all my shafts by hand after a day's running. I like to take that opportunity to inspect the cables and catch possible issues with the cables before failures occur and I lose a $100 prop.

I think the oil or grease hole is ok for maintaining shaft lubrication during a day's running/racing, but cables should nonetheless still be inspected after each day running. Just my opinion on the matter.
FTR I use cable grease sold by RC Boat Parts ( I get it from CC Racing). It's easily god for a whole day of racing without having to re-grease between heats, so for me, the oilers really are of no use. I kind of like that grease hole though. That I would probably use just to be on the safe side!